At KASE the equilibrum market of dollar is maintained

/IRBIS, 03.08.99/ - At the Kazakhstan stock exchange (KASE) the next trades on US dollar, Deutsche mark and Euro were held. 28 banks have taken part in trades. As well as yesterday, the trades were opened with US dollar on a mark 131,85 tenge for a hard currency unit. As a result of a series of the transactions, conducted during five minutes, the exchange rate of a dollar descended to a level of131,81 tenge for a dollart, which has caused activization of the buyers and has resulted in local overweight of demand above the supply: dollar not only has won back the lost points, but also has risen up to a level of 131,86 tenge for a dollar. The following wave of the supply caused by growth of the price of the American currency, has resulted in stabilization of the market in a price interval of 131,83- 131,84, and only at the last minutes of tender the rate of dollar has grown a little: the session was closed by the quotations 131,84 (demand) / 131,86 (supply). As a whole, it is necessary to note, that on the trade floor the parity of a supply and demand was observed, and any explicit tendency in the dynamics of a rate was absent. In total on USD 222 transactions were made. The average weighted rate of a dollar has reached 131,83 tenge for a unit and in comparison to results of the previous session has decreased by 0,05 tenge (5 points). Volume of the session - $ 13,245 millions - has increased relatively to the latest tenders by $ 2,755 millions. The amplitude of a rate fluctuation during the tender has made 0,04%. One hour after closing of the tenders on secondary market of Kazakhstan dollar was quoted at a level of 131,81 (demand) / 131,88 (supply) tenge for a unit. The experts of IRBIS mark, that the speculative component in the behaviors of the banks of the second tier was felt at trade sessions, which have not been noticed for a long time already. The market is getting active. Gradual decrease of US dollar exchange rater has not forced banks and their customers to sell their American currency in the large volumes, which is required within the framework of obligatory sale or for satisfaction of the current needs. On Deutsche mark four transactions on a total sum of DM 20 thousand were made. The weighted average rate by the results of the tender has made 71,97 tenge for a mark. In comparison with the results of the previous session the rate of the mark has decreased by 0,12 tenge (12 points), and the volume of the tenders has decreased by DM 40 thousand. On closing of the session DM was quoted at a level of 71,97 (demand) / 72,10 (supply) tenge for a unit of the currency. On Euro 2 deals in the amount of 35 thousand Euros were made. The weighted average rate by the results of the tender has made 140,49 tenge for a unit. In comparison with yesterday's trades the rate Euro has fallen by 26 points (0,26 tenge). At the closing of the trades the European currency was quoted at a level of 140,55 (demand) / 140,90 (supply) tenge for Euro.